MIN - Mineral Resources
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Mineral Resources Limited Prices US$1.1 billion Senior Unsecured Notes Offering
Mineral Resources Limited (ASX: MIN) (MinRes or Company) announced the pricing on 28 September 2023 of its US$1.1 billion 9.250% Senior Unsecured Notes due 2028 (the Notes) in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the Securities Act), and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
The aggregate principal amount of the offering has been increased from the initially announced US$850 million. The settlement of the offering of the Notes is expected to occur in New York on 3 October 2023, subject to customary closing conditions. MinRes intends to use the cash proceeds from the offering for general corporate purposes, including for capital expenditures.
The Notes will pay interest on 1 April and 1 October each year, commencing on 1 April 2024, at a rate of 9.250% per annum.
The Notes will be guaranteed by certain wholly-owned subsidiaries of MinRes.
This announcement does not constitute an offer to sell, or the solicitation of any offer to buy, the Notes or any other securities. Any offer of the Notes will be made only by means of a private offering memorandum. The Notes are not being registered under the Securities Act nor the securities laws of Australia nor any other jurisdiction.
The Notes may not be offered nor sold in the United States without registration under the Securities Act or an applicable exemption from such registration requirements.
ENDS
This announcement dated 29 September 2023 has been authorised for release to the ASX by Mark Wilson, Chief Financial Officer and Company Secretary. For further information, please contact:
i hold MIN ( 'free-carried' )
i MIGHT have taken a bite here if denominated in Australian Dollars and offered through Australian markets
9.25% is a little low for me but it is senior debt
will be less likely to add more in the mid-term with this potential time-bomb in their treasure chest
Mineral Resources Limited (ASX: MIN) (MinRes or Company) announced the pricing on 28 September 2023 of its US$1.1 billion 9.250% Senior Unsecured Notes due 2028 (the Notes) in an offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the Securities Act), and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
The aggregate principal amount of the offering has been increased from the initially announced US$850 million. The settlement of the offering of the Notes is expected to occur in New York on 3 October 2023, subject to customary closing conditions. MinRes intends to use the cash proceeds from the offering for general corporate purposes, including for capital expenditures.
The Notes will pay interest on 1 April and 1 October each year, commencing on 1 April 2024, at a rate of 9.250% per annum.
The Notes will be guaranteed by certain wholly-owned subsidiaries of MinRes.
This announcement does not constitute an offer to sell, or the solicitation of any offer to buy, the Notes or any other securities. Any offer of the Notes will be made only by means of a private offering memorandum. The Notes are not being registered under the Securities Act nor the securities laws of Australia nor any other jurisdiction.
The Notes may not be offered nor sold in the United States without registration under the Securities Act or an applicable exemption from such registration requirements.
ENDS
This announcement dated 29 September 2023 has been authorised for release to the ASX by Mark Wilson, Chief Financial Officer and Company Secretary. For further information, please contact:
i hold MIN ( 'free-carried' )
i MIGHT have taken a bite here if denominated in Australian Dollars and offered through Australian markets
9.25% is a little low for me but it is senior debt
will be less likely to add more in the mid-term with this potential time-bomb in their treasure chest
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Mineral Resources: The fish that ate the whale
Mineral Resources: The fish that ate the whale
Blackwattle Investment Partners' Ray David discusses the analogous story of Chris Ellison and famed entrepreneur Sam Zemurray.
i hold MIN ( 'free-carried' )
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MIn Res has started converting its Onslow fleet of ICE road tran trucks to austonomous driverless.
From International Mining
Interesting that they are converting the entire fleet, rather than have a a few test vehicles.
Obviously pretty confident in the hardware/software.
Mick
From International Mining
Interesting that they are converting the entire fleet, rather than have a a few test vehicles.
Obviously pretty confident in the hardware/software.
Mick
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are on a private road .. what could go wrong
( time will tell )
i hold MIN ( 'free-carried' )
i would have preferred rail ( and electric/autonomous ) , but the choice is made and i should still crystallize an adequate profit if i feel the desire to exit ( my average buying price was below $14 )
Dona Ferentes
A little bit OC⚡DC
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MinRes said on Thursday that Mt Marion, owned in partnership with China’s Ganfeng; Wodgina, co-owned with Albemarle; and its newly acquired Bald Hill were all profitable mines at current prices.
“All three mines are operating profitably at today’s prices,” Mr Ellison said on a call with analysts. “Those prices are going to continue to decline over the next three to six months.”
Mr Ellison added that talks with its partners Ganfeng and Albemarle indicated inventories were declining, and that the market was nearing a bottom.
He said MinRes’ history in lithium showed it had operated at prices lower than $US600 a tonne for longer than when they were at $US1000 a tonne.
“We used to make money at $US600, and we can still do that.”
.
... other strings in the bow would help,if this is only to be a short-term issue.
“All three mines are operating profitably at today’s prices,” Mr Ellison said on a call with analysts. “Those prices are going to continue to decline over the next three to six months.”
Mr Ellison added that talks with its partners Ganfeng and Albemarle indicated inventories were declining, and that the market was nearing a bottom.
He said MinRes’ history in lithium showed it had operated at prices lower than $US600 a tonne for longer than when they were at $US1000 a tonne.
“We used to make money at $US600, and we can still do that.”
.
... other strings in the bow would help,if this is only to be a short-term issue.
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many strings to the bow ( and the ability to hit some targets ) is why i bought into MIN ( and IGO )
the lithium exposure might be a bonus or a detriment , but not the whole fate for the company
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Mineral Resources (ASX: MIN) Surprises with Lithium Profitability
Mineral Resources (ASX: MIN) Surprises with Lithium Profitability
The fall in lithium prices crushed the Mineral Resources share price, but the company’s lithium operations still managed to turn a profit.
thebull.com.au
i hold MIN ( 'free-carried' )
Took the plunge today, FMG has its share of posts on ASF, time for MIN to shine.
MIN is down about 30% in just over a month.
Will they need to raise cash or no?
It must be tight, the $200m payment to RHI was agreed to be paid next FY instead of this FY.
Fe price dropping, Li price terrible, expansion costs, EOFY selling...
A falling knife or opportunity?
MIN is down about 30% in just over a month.
Will they need to raise cash or no?
It must be tight, the $200m payment to RHI was agreed to be paid next FY instead of this FY.
Fe price dropping, Li price terrible, expansion costs, EOFY selling...
A falling knife or opportunity?
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MIN was on my list of potential buys here but i took FMG as my IO play and had a dabble in LTR for lithium exposure
Came across this article, but it's not the one I'm after...
Most Oversold ASX 200 Stocks
| Ticker | Company | RSI | 1-Month % | Close Price | Target price | Upside |
|---|---|---|---|---|---|---|
| MIN | Mineral Resources | 12 | -28.9% | $55.76 | $71.41 | 28.1% |
| IGO | IGO | 18 | -27.4% | $5.58 | $7.90 | 41.6% |
| FMG | Fortescue | 21 | -20.5% | $21.71 | na | na |
| LTM | Arcadium Lithium | 22 | -30.2% | $4.97 | na | na |
| PLS | Pilbara Minerals | 23 | -23.4% | $3.11 | $3.76 | 20.9% |
| DRR | Deterra Royalties | 24 | -15.9% | $4.06 | $4.96 | 22.2% |
| MP1 | Megaport | 24 | -21.2% | $11.81 | $15.53 | 31.5% |
| LTR | Liontown Resources | 25 | -34.8% | $0.94 | $1.38 | 47.6% |
| VEA | Viva Energy Group | 27 | -10.5% | $3.14 | $4.02 | 28.0% |
| PDN | Paladin Energy | 28 | -22.8% | $13.24 | $16.54 | 24.9% |
The 10 most overbought and oversold ASX 200 stocks – Week 25
The most oversold list reads like a graveyard of heavyweight lithium miners, including Mineral Resources, IGO and Pilbara Minerals. This reflects the sharp decline in Chinese lithium carbonate prices, which hit year-to-date lows of 91,900 yuan per tonne last week.
www.marketindex.com.au
The link is to the aforementioned
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I screen for all this type of data but a website scrape is a decent substitute
Are you looking for a link? Is that what you mean?
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No i need no link , i code up a screener and run my own scans for this type of data . You could share the link to help others though for sure
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i bought MIN under $14 , so the dip is nowhere deep enough to attract more cash from me
maybe later
maybe later
That was years gone past, divs. Are you waiting for 14 again?
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not particularly , but if it comes down again i will decide yah or nah
but it was only 2019 for the sub $14 parcels ( 2 of them )
5 years isn't so ancient history